Question 5(18 Marks) Pam's Party Planning provides food service and bartending for private and corporate parties Pam's does not prepare the food, but does provide supplies such as dishes, linens and ice for the event. The ollowing transactions occurred in December 2015, the first month of the business operations Dec1 Pamela Peppermint invested $20,000 in the business Dec 3 Business purchased a used delivery van for $7,500 on account Dec5 Purchased supplies for cash $2,300 Dec7 Signed contract to provide services at a party to be held in January Received a deposit of $750 from the customer Dec 8 Provide services for a corporate party Received full payment in the amount of $3,100 Dec 10 Paid the staff who worked at the December 8 pany $950 in wages Dec 14 Provides services for a private party Issued an invoice for $1,600 to the customer who will pay in January Paid $425 for an advertisement in the local newspaper The ad began running every day for a week starting December 10 Pamela Peppermint withdrew $1,600 for personal use Paid for a one-year insurance policy on the delivery van for $2,800, effective Jan 1 to Dec 31, 2016 Dec 18 Dec 23 Dec 31 Instructions a Prepare the journal entries for the above transactions. Explanations are not necessary (10 marks) b. Prepare a trial balance at December 31, 2015 based on the above accounts (8 marks)